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OnePlus warns of price rises after Brexit vote

Costs could rise because of weak pound

The fallout from the Brexit has started to ripple through the technology market after Chinese smartphone firm OnePlus warned that prices in the UK could rise as a result of the UK leaving the EU.

OnePlus staffer 'David S' warned in a post on the company's forums that the UK's new political situation makes it likely that the price of the OnePlus 3 will have to rise to ensure that the firm doesn't start making a loss on the smartphone.

"The worrying downward trend of the GBP may make it difficult to maintain our current pricing structure in the UK," the post read.

"Our margins have always been thin, and our expenses are mainly in USD. This being the case, sudden drops such as the one that the pound has recently experienced could have a direct impact on our prices."

OnePlus advised customers thinking of picking up a OnePlus 3 that now would be the best time to do it.

"We’re telling you this now because we don’t want you to be blindsided. If you’re thinking of buying, we recommend doing so sooner rather than later," the post said.

"We have only had to increase prices once before, when the euro hit a nine-year low against the dollar at the beginning of 2015, and we did so reluctantly. Currency fluctuations are not your fault or our fault, but if we sell at a loss the simple fact is that there won’t be a OnePlus in the future."

The post did try to include something positive. "By no means are we worried about our business in the UK, Europe or globally. We’re confident that the OnePlus 3 is one of the best phones out there, and it’s our most successful product ever," the firm said.

It remains to be seen whether other smartphone makers will follow suit.